Overall sales increased by 24.3 percent. Softening demand in second quarter could result in lower growth. Added 20 collision repair centers since start of year. The Boyd Group Income Fund (TSE:BYD.UN) today reported its financial results for the three-month period ended March 31, 2016. Sales increased by 24.3 percent to CA$350.4 million ($270.6 million) from […]
CARSTAR Adds Collision Repair Center in South Dakota
CARSTAR Auto Body Repair Experts announced the addition of CARSTAR Riverside Auto Body, owned by Tim and Sheila Steiner, to its network of independently-owned collision repair centers. The facility is located at 89850 Highway 81 in South Yankton, S.D. “The reason I looked at joining CARSTAR is because it was getting to a point where […]
Largest Maaco Opens in Texas Today
They say that everything is bigger in Texas. At more than 20,000 square feet, Maaco McKinney is not just the biggest in Texas, it is the largest Maaco facility in the world based on square footage. The shop will hold a Grand Opening celebration today from 2 p.m. to 8 p.m. They are located at […]
3M Kick-Starts Collision Repair Education Foundation Summer Drive with $1.1 Million Product Donation
3M helped launch the Collision Repair Education Foundation’s “summer drive” for product donations of tools, equipment, and supplies with a $1.1 million donation of color match film products to 300 collision repair schools programs. The Education Foundation is seeking industry member’s support in providing in-kind donations to assist high school and college collision repair school […]
Usage-Based Insurance Projected to Grow to 142 Million Subscribers Globally by 2023
In 2015, close to 12 million consumers globally subscribed to this type of insurance, according to a new report from IHS Automotive, part of IHS, Inc. (NYSE:IHS). The number of consumer subscribers to UBI is expected to grow to 142 million globally by 2023, according to the IHS report. This specific type of automobile insurance […]
New Hampshire Passes Non-OEM Parts Restriction Bill
Legislation that restricts insurers from requiring non-OEM parts for vehicle placed in service within past two years. ASA-supported legislation also restricts use on lease vehicles if they could impact residual values. The New Hampshire House of Representatives approved Senate Bill 436 (SB 436) yesterday that requires insurance companies to disclose when then they specify non-OEM […]
Guild 21 Conference Call Today Features John Eck from General Motors
The next Guild 21 conference call takes place today at 2 p.m. EST (11:00 a.m. PST) and will feature John Eck, Manager, Wholesale Dealer Channel, General Motors Customer Care & Aftersales, who will present on the topic of quality repairs and OEM certification for repair facilities. Eck has over 25 years of automotive aftermarket experience […]
Nissan Takes 34% Stake in Mitsubishi Motors
Nissan Motor Co., Ltd., and Mitsubishi Motors Corporation, (MMC) announced that they have signed a Basic Agreement today to form a far-reaching strategic alliance between the two Japanese automakers. Following an MMC share issue, Nissan will take a 34 percent equity stake in MMC for 237 billion yen. The strategic alliance will extend an existing […]
Audatex and Maaco Extend Strategic Relationship
AudaExplore, the U.S. business unit of Solera Holdings, Inc., announced the extension of its strategic relationship with Maaco, one of the world’s largest collision repair franchises. This newly extended relationship will support and provide benefits to the success of the Maaco brand. AudaExplore will provide Maaco with mobile applications including Mobile Damage Capture for estimating […]
FTC Issues Second Request on Sherwin-Williams and Valspar Merger Review
The Sherwin-Williams Company (NYSE:SHW) and The Valspar Corporation (NYSE:VAL) announced that, as expected, the companies have each received a request for additional information and documentary material, a Second Request, from the United States Federal Trade Commission (FTC) in connection with Sherwin-Williams’ pending acquisition of Valspar. The Second Request was issued under notification requirements of the […]